Compare Analysis of Kirtland with 1.40% APY and Forbright Bank with 5.15% APY
This analysis is for demonstrative purposes only. Savings rates may go up or down, and CD rates may not be renewable for the length of the term of the analysis.
PRODUCT
BANK
AMOUNT
TERM
APY
VS.NATL'L AV.
MIN
BANK TYPE
STATE
All calculations are for demonstration purposes only.
- 1LOCAL CD$50,00060 Month1.40%1.54x (National Avg. - 0.91%)$100,000Credit Union-SCENARIO
Year Rate
1.40%Annual
InterestAnnual Interest
(After Tax)1 50,000 700 490 2 50,700 710 497 3 51,410 720 504 4 52,130 730 511 5 52,859 740 518 6 53,599 750 525 7 54,350 761 533 8 55,111 772 540 9 55,882 782 548 10 56,665 793 555 11 57,458 804 563 12 58,262 816 571 13 59,078 827 579 14 59,905 839 587 15 60,744 850 595 16 61,594 862 604 17 62,456 874 612 18 63,331 887 621 19 64,217 899 629 20 65,117 912 638 TOTAL $16,028 $11,220 - 2LOCAL SAVINGS$50,000N.A.5.15%23.95x (National Avg. - 0.22%)$0Bank-SCENARIO
Year Rate
5.15%Annual
InterestAnnual Interest
(After Tax)1 50,000 2,575 1,803 2 52,575 2,708 1,895 3 55,283 2,847 1,993 4 58,130 2,994 2,096 5 61,123 3,148 2,203 6 64,271 3,310 2,317 7 67,581 3,480 2,436 8 71,062 3,660 2,562 9 74,721 3,848 2,694 10 78,569 4,046 2,832 11 82,616 4,255 2,978 12 86,870 4,474 3,132 13 91,344 4,704 3,293 14 96,049 4,946 3,463 15 100,995 5,201 3,641 16 106,196 5,469 3,828 17 111,665 5,751 4,026 18 117,416 6,047 4,233 19 123,463 6,358 4,451 20 129,821 6,686 4,680 TOTAL $86,507 $60,555